Understanding how the odds stack up to your prediction is among the most challenging parts of any wager. It’s what people in pubs sit around speculating: it’s what the stats sheets are trying to work out.
Our odds value calculator is here to help. While this can’t take out all the legwork, it can make contextualising all those considerations much clearer. Ultimately, our odds value calculator online is about helping you know which bets are worth your while.
Being able to understand how to calculate odds value, for many bettors, may seem like an impossible dream. Well, two important things to understand are that this is no magic calculation – just some rather clever maths. The other is that it still requires research into your favourite sports. Our odds value calculator is indeed an incredible tool, and it’s one which works alongside your knowledge.
Our odds value calculator online takes two different criteria and then uses that information to tell you whether or not the bet would have a negative or positive value. This will help you understand whether it’s worth your while or not. This consists of the odds of the market and then a percentage based on what you think the likely probability is of that event coming true.
A simple example would be if a market had 2/1 odds and you felt it had a 90% chance of coming true. In that case, that would represent excellent value and would be calculated here as plus 170.00. The higher the positive number, the better the value of the wager. The lower the negative number, the worse the value. It’s a simple, easy way of understanding arguably the hardest concept in gambling.
We hope now you have a good idea of just what this betting calculator is all about. However, if you’re still not sure whether you can benefit from using it, we’ve compiled five reasons why we think you should give our odds value calculator online a whirl – and why we think it can make your bets that much better.
The value is based on mathematics: The way you understand how to calculate odds value using our odds value calculator is intentionally made as simple as possible. The higher the value number, the better and vice versa. But this isn’t just some arbitrary system. It’s based on mathematics, calculating how often a bet would likely win and generate a profit if placed 100 times.
You can see the value change as your prediction does: You don’t have to stick to your original percentage. If you do more research and change your mind, you can easily recalculate the value of that bet. And you can do this as many times as you want, meaning the calculator is available for as little or as much insight as you require.
It only takes a few moments to use: Backing up our previous point is that, while the odds value calculator online might be complicated in theory, none of that is on your side of the fence. Typing in your odds and percentage can take quite literally under a minute if you’re in a hurry – probably a couple of minutes if you’re taking it easy. Either way, the point is this adds a whole lot of value for almost no effort on your part.
You can use it alongside other calculators: As we’ll discuss in more detail later, our odds value calculator online isn’t the only tool we have available. You can use our other calculators alongside this odds value calculator to look at any bet from practically any angle you think would be of use for you.
It’s a perfect frame of reference: The percentage part of the equation comes down to your judgement, and understanding the accuracy of your judgement is vital in being successful in betting long-term. This means that this calculator is ideal for making notes on how well your predictions have done. For instance, if you’re consistently placing what should be high value bets but failing, then perhaps your perception guiding the percentages requires a rethink.
Why you need to use our calculator and how to calculate odds value
We can’t tell you why you, specifically, will want to use this calculator. It may be that you want to quantify the quality of your predictions or you aren’t sure whether you’re getting ripped off by your bookmaker. The odds value calculator can help with either, and can clarify all kinds of other betting scenarios too.
However, we think its greatest strength comes down to how easy it is to use. And there’s no better way of showing you that than breaking down how it works in a few simple steps:
Find a betting market you’re interested in. Specifically, choose one you think has a good likelihood of being correct and preferably one which will make you enjoy the upcoming game even more.
Make a note of the odds of that market, and put those numbers into the odds value calculator online.
Decide how likely it is that the market is correct, and assign a percentage value. In other words, if you think it’s a coin flip of a chance, you could go 50%. If you think it’s overwhelmingly likely, you could input 90%.
The calculator will immediately tell you the value of that bet placed as either a positive or negative number.
You can then decide whether you’re happy with that bet or whether you want to test out some more.
Top tips for using the calculator for the first time
This is a calculator which requires you to utilise your own judgement in coming up with a percentage probability so the odds value calculator online can be most effective. This – even with the help of our other betting calculators – can be a challenge for even experienced bettors. With that in mind, here’s three top tips to help you work out market likelihood.
Do as much research as you can
There’s simply no substitute for knowledge. Try to understand as much as is relevant for that particular market. If you’re betting on which team would win in a football match, for instance, knowing the recent form of both teams would be a vital piece of information, as would the starting line up.
Bet on what you know
You know what takes the sting out of research? When you already know a lot of information already because you’re a huge fan. Plus, this makes any additional info you look up just that much more fun to do.
Don’t let your emotions dictate your probability percentage
One key mistake using this calculator is not putting in what you think is going to happen but rather what you would like to happen. The only issue with betting on what you’re passionate about is that it can mean there’s a rift between your head and your heart. If that’s the case, alternatives such as handicap markets can help you enjoy your favourites without compromising on your bet value.
Other calculators we offer
As mentioned, the value calculator is far from the only tool we provide. Check out our others to see what else could improve your gambling prowess.
Betting odds calculator: This converts your odds and stake into returns and profit, so you can see exactly how much your bet is worth.
Parlay calculator: This is exactly the same as above, but for more complex parlay bets.
Betting odds converter: Convert whatever odds you have to whichever type you prefer, with options from all around the world.
Hedging calculator: Learn how to hedge your bets to provide consistent profits using this calculator.
Sports betting hold calculator: Find out how much the bookmaker has an edge in any given market to discover the quality of what you’re being offered.
Spread to moneyline converter: Work out the moneyline on any spread in just a couple of clicks.
Conclusion: Value is key to smarter betting
This calculator is not quite as simple as some of the other tools we provide. It requires input from yourself beyond a couple of copied clicks to make the most out of it. Indeed, unlike many tools, it requires a certain level of thought – perhaps a great deal of it, depending on how seriously you take your betting. However, we would say that this effort is paid back in spades for the sheer amount of value the odds value calculator online provides. Being able to quantify bet value can be a game changer for many people’s betting.
Understanding what an odds value calculator is and how it works is vital to ensuring that you get the most out of this tool and indeed, in making sure that you have the best understanding of your odds value. We’ve got the calculator plus everything you could possibly want to know about it, right here. You may also be interested in our handy sports betting odds calculator.
❓How does this odds value tool differ from other calculators?
There’s no doubt about it, the internet has no shortage of online calculators. So, you’re probably wondering, what makes this one stand out? Why is it worth paying attention to? Our guide has all your answers and then some, so be sure to check it out for more.
✅How easy is the odds value calculator to use?
Tools are supposed to make our lives easier. That’s why if a betting calculator, such as a sportsbetting odds calculator, is tough to us, well, then it isn’t that good at what it does. We’ll be breaking down how easy this odds value calculator is to use, as well as exactly how to do so, allowing you to really make the most out of our latest creation.